Manugistics' Net Loss Widens

Updated June 27, 2002 11:57 p.m. ET

Manugistics Group Inc. reported a wider fiscal first-quarter loss on a hefty drop in revenue as customers delayed orders. The business-software maker said it will cut its work force by 12%, or 180 employees. In addition, Manugistics said President Richard Bergmann, 46 years old, will take a "personal leave of absence." His duties will be assumed by Greg Owens, 42, chairman and chief executive. The company's net loss widened to $27.1 million, or 39 cents a share, in the quarter ended May 31, compared with a year-earlier loss of $23.4 million, or 35 cents a share. Revenue fell 19% to $74.6 million. Software...